Dec, 31, 2020 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 2 branch locations and about $38.47 million in total assets. Opened 89 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,631 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDUCATION 1ST CREDIT UNION |
|---|---|
| Address: (Main Office) | 1250 COUNTRY HILLS DR OGDEN, UT 84403-2560 |
| Phone: | (801) 392-4877 |
| Fax: | (801) 392-4879 |
| Website: | http://e1cu.org |
| Branches: | 2 branch locations |
| Members: | 2,631 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67127 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $38,466,803 |
| CEO/Manager: | Kent M Greenfield |
| Chairperson: | Bruce Christensen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,309,646 |
| TOTAL INVESTMENTS | 2,049,832 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,271,889 |
| Unsecured Loans | 2,248,541 |
| Other Loans | 11,403,472 |
| TOTAL LOANS | 28,923,902 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -167,130 |
| Land And Building | 255,163 |
| Other Fixed Assets | 185,964 |
| NCUSIF Deposit | 302,474 |
| All Other Assets | 1,606,952 |
| TOTAL ASSETS | 38,466,803 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 89,390 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,697,167 |
| Regular shares | 15,274,064 |
| All Other Shares & Deposits | 10,521,176 |
| TOTAL SHARES & DEPOSITS | 34,492,407 |
| TOTAL LIABILITIES | 34,581,797 |
| Regular Reserve | 1,166,896 |
| Other Reserves | 0 |
| Undivided Earnings | 2,718,110 |
| TOTAL EQUITY | 3,885,006 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 38,466,803 |
| INCOME & EXPENSE | |
| Loan Income | 1,420,084 |
| Investment Income | 42,456 |
| Other Income | 502,103 |
| Total Employee Compensation & Benefits | 750,974 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 527,721 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 135,388 |
| Cost of Funds | 284,611 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 265,949 |
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